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Equities spike on Russia headline

CROSS ASSET
  • Cross assets sees Equities spiking, while Govies fall.
  • In FX, USD extend losses, and risk tied currencies like the AUD goes bid, following the headline that Russian troops were returning to their base.
  • Market are overly sensitive, but one thing to note, is that volumes are on the lighter side this morning, which may help exacerbate some of the price action.
  • As per Bloomberg/Interfax : "The units of the Southern and Western military districts, having completed their tasks, have already begun loading onto rail and road transport and today they will begin moving to their military garrisons. Individual units will march on their own as part of military columns," said Russian Defense Ministry spokesman Igor Konashenkov.".

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